From energy updates to self-assessment deadlines, The Mirror has rounded up all the key financial changes coming up in October
October is set to be another big month for your wallet – and The Mirror has rounded up all the key dates for your diary.
Energy bills are rising at the start of next month, but a scheme that gives you £150 off your electricity costs is also set to reopen, so keep an eye on this if you’re struggling.
The Winter Fuel Payment phone line, for those that need to apply – most people will get it automatically – will also reopen. October is a busy month if you’re self-employed, as the self-assessment tax register deadline is also coming up.
There is also a deadline to file your self-assessment tax, if you choose to do this by post. Here is everything you need to know.
October 1 – Energy prices rise
The Ofgem energy price cap will rise from £1,720 a year to £1,755 a year on October 1. These figures are how much the typical dual fuel household paying by direct debit can expect to pay for energy.
This will last until December 31, when the price cap will be updated again. There isn’t actually a total cap on what you can pay for energy. Your bill is still charged based on how much gas and electricity you use.
The Ofgem price cap limits what you can be charged for units of gas and electricity, as well as standing charges, which are fixed daily amounts you pay to be connected to the energy network.
October 5 – Register for self-assessment
If you’ve never submitted a self-assessment tax return before, you must register with HMRC by October 5. This is for the 2024/25 tax year.
You can check if you need to complete a tax return on GOV.UK. Tax returns are normally due if you’re self-employed and your income hasn’t had tax automatically deducted, or if you’ve earned extra cash outside of your normal employment that has not been taxed.
If you have a side hustle, you can earn £1,000 every tax year before you have to declare it to HMRC.
October 13 – Winter Fuel Payment phone lines open
Winter Fuel Payments are worth up to £300 and the majority of people who are eligible will receive this cash automatically – but there are some that need to apply.
If this is you, then you’ll be able to apply by phone from October 13. For example, you will need to put in a claim if you’ve deferred your state pension since your last Winter Fuel Payment.
October 16 – Tesco Christmas saver
The final day to pay into the Tesco Christmas Saver scheme is October 16. The scheme allows you to save up your Clubcard points throughout the year to use at Christmas time.
You can also top up your account with cash, and the supermarket will pay a bonus on top of this in the form of Tesco vouchers. The smallest bonus is £1.50 when you save between £25 and £49.50.
The biggest bonus is £12, which you get when you save between £200 and £360.
October 22 – Inflation update
The latest inflation data from the Office for National Statistics (ONS) will be released on October 2. Inflation is a measure of how prices have changed over time.
In the latest update from the ONS, inflation was revealed to have stayed unchanged at 3.8% in August. At its highest point, inflation reached 11.1% in October 2022.
October 31 – Self-assessment paper deadline
The deadline for filing your self-assessment tax return by post is October 31. If you miss the deadline, you’ll be charged a late filing penalty of £100.
If you still haven’t filed after three months, there are additional daily penalties of £10 per day, up to a maximum of £900. Then after six months, a further penalty of 5% of the tax due or £300, whichever is greater, is applied. This repeats again after 12 months.
If you don’t send your paper form on time, you can instead fill out your tax return online. The deadline for this is January 31, 2026. The deadline for paying the tax you owe is also January 31, 2026.
October – Warm Home Discount letters begin
If you are entitled to the Warm Home Discount, which gives you £150 off your electricity bill, then you should receive a letter in the post from October 20.
The Warm Home Discount is available to households where someone was claiming a qualifying benefit on August 24, including the guaranteed credit element of Pension Credit or Universal Credit.
It is paid straight to your energy provider, rather than as a direct payment into your bank account.